Yes, Solana Beat Out Ethereum and is becoming the visa for Crypto, as mentioned by Bank of America. Solana boasts up the high speed of transaction along with various decentralized applications on their network. With the latest and recent research of BofA, it say that it could have various use cases for the customers.
Bank of America possibly gave the biggest praise as the key U.S. bank may also bestow on the cryptocurrency. This is also compare to the world’s biggest network of credit card.
However, Solana can even become Visa of digital asset. This was said by International crypto strategist and digital asset strategist of Bank of America in the research note. He also mentioned that above 400 decentralized applications on the network of Solana host. It is almost everything from the peer-to-peer exchanges and to the various NFT marketplaces.
Ethereum as a Blockchain
Ethereum, on the other hand, it could also become a blockchain for various set of the high-value transactions. This is along with their storage, with their identity along with various supply chain use cases.
Though, there are various Solana projects that are also trying to simply solve the scalability of Ethereum woes. It is through the sidechains on the Polygon along with the rollups on Arbitrum. The congestion is not mainly to the significantly reduce till the time the complete rollout of the Ethereum 2.0. On the other hand, Ethereum creator also Vitalik Buterin has even posited in the month of June 2020. This has also the upgraded get network can also simply get about 100,000 TPS.
Solana has also blows Ethereum along with the visa that both out of water by their estimates, thereby also boasting the limit which is theoretical of about 65,000 TPS at the fractions of just the penny.